Cases
Experience: Representative Matters: Representing Tradition Financial Services (one of the world's leading inter-dealer brokers) in defending a claim for dishonest assistance
fraudulent trading brought against various financial institutions following VAT carousel fraud in the trading of carbon credits. The case was heard by the Commercial Court, Court of Appeal ([2021] EWCA Civ 221)
in the Supreme Court (UKSC/2023/0033) on the scope of the fraudulent trading provisions under s.213 of the Insolvency Act. During this case, successfully applied for an adjournment of the trial with a widely reported judgment from the Court of Appeal giving guidance on the resolution of such applications in the context of fairness of proceedings ([2021] EWCA Civ 221).
Representing Crane Bank of Ug
a
its shareholders in a U.S. $250 million Commercial Court claim against 15 defendant shareholders in following special measures taken against the bank by the Central Bank of Ug
a as part of a corrupt scheme to take control of Crane Bank
misappropriate its assets. Claims are brought in unlawful means conspiracy, dishonest assistance,
against one defendant, knowing receipt. Successfully defeated at the Court of Appeal an application challenging the jurisdiction of the English Court on the basis the claim was barred by the Foreign Act of State Doctrine (the FASD). The Court of Appeal found in Crane Bank's favour on the basis of the Commercial Activity Exception
the Public Policy Exception to the FASD. The ruling in relation to the Public Policy Exception was significant, as the Court of Appeal considered the developing area of the English public policy to combat the corruption of foreign public officials
the disapplication of the FASD as a consequence ([2023] EWCA Civ 886). The defendants' applications for permission to appeal to the Supreme Court were refused. Also secured a significant victory for Crane Bank in defeating a security for costs application ([2024] EWHC 2773 (Comm)) on the basis the second claimant is a 'good mark'.
Representing a Luxembourg-based client in a conspiracy claim arising from enforcement of a facility agreement provided by VTB Capital Plc
allegations that the sale of shares in a Lux entity that owned Bulgaria's largest telecommunications company were rigged. Proceedings were in the UK, Luxembourg, Bulgaria
the United States.
Represented a Russian business in the oil sector in securing from the BVI Court worldwide freezing injunctions
an unprecedented order preventing the shareholders of a BVI company from removing the directors. Also represented the client in a related arbitration conducted under the rules of the LCIA (including an appeal to the High Court pursuant to s.68 of the Arbitration Act challenging an arbitral award for serious irregularity)
connected proceedings in Switzerl
.
Represented American Express in a merchant acquisition agreements arbitration conducted under the rules of the LCIA.
Defended for Duet Asset Management a 60m claim brought by Habas Tulip before the District Court of Amsterdam
the Amsterdam Court of Appeal arising from an agreement to acquire shares in NSI, a Dutch publicly listed company. The courts accepted Habas had withheld from Duet the fact that NSI was arranging a deeply discounted 300m private placement that would immediately dilute the shares in NSI.
Defended Tradition, in a team move case
a case involving competitor confidential information, both of which went to trial. An application by Tradition to secure disclosure of a copy of a settlement agreement entered into between the Claimants
a co-Defendant resulted in a widely reported judgment of the Court of Appeal on the application of litigation privilege
without prejudice privilege in the context of settlement agreements ([2019] EWCA Civ 1937).
Represented Bain Capital
the Ideal St
ard Group in declaratory proceedings followed by an appeal relating to the powers of majority lenders, alleged events of default
the types of financial transactions that qualify as equity cures under a senior facilities agreement. Bain Capital sponsored the acquisition of Ideal St
ard for U.S. $2 billion. (Strategic Value Master Fund Ltd v. Ideal St
ard International Acquisition SARL & Ors [2011] EWHC 171 (Ch)).
Represented individuals
corporations in a multijurisdictional U.S. $500m claim relating to the funding
finance of substantial real estate assets in Montenegro. Secured judgment discharging a worldwide freezing injunction (
similar orders in Cyprus, the BVI,
Nevis) for material non-disclosure,
refusing jurisdiction on the basis that Russia is the proper forum.
Settled for Credit Suisse Trust in Guernsey a High Court claim against an international bank for breach of duty
fraudulent misrepresentation in respect of advice given to invest in a U.S. $50m property project in Dubai.
Represented St
ard Chartered Bank in proceedings before the High Court
Court of Appeal in relation to a substantial dem
guarantee dispute, which formed part of a U.S. $130m contract for the supply of electricity in Bangladesh (Greenl
Bank v. AMEX [2008] EWCH 421 (CH)
[2009] EWCA Civ 14).
Advised Generali Spain on complex investment products.
Advising IDT Finance, a bank based in Gibraltar on payment systems issues.
Represented Duet Limited (a private equity fund) in defending to trial a warranty/indemnity claim brought against it arising from the development of a hotel on the isl
of St Barts.
Advising Universal Capital Bank of Montenegro on various matters.
Advising the majority shareholders of VIM Airlines of Russia in respect of the bankruptcy of the airline.
Advised Evrofinance Mosnarbank in a dispute with an oil producer in Venezuela.
Advised a Spanish client in respect of a dispute involving a joint venture that owns an oil field in Russia's Perm region.
Acting for pharmaceutical
IT companies in claims brought using civil powers of search, freeze
seize against those involved in counterfeiting.
Advising Dubizzle, the leading online classifieds website in the UAE, on matters in Engl
the UAE.
Advised Russian bank Promsvyazbank in relation to the bankruptcy of Vladimir Kekhman.
Advised a client in respect of the liquidation of a Cayman Isl
s based shipping fund.
Represented Investec Bank Limited in proceedings arising from the largest Ponzi scheme to be uncovered in South Africa.
Represented Dell in a number of matters.
Advised American Express in a joint venture arbitration conducted under the rules of the LCIA relating to Amex's operations in the Middle East.
Advised various private equity houses, including Centerbridge Partners, in respect of litigious matters arising from the restructuring of Endemol.
Represented Russian Bank OJSC URALSIB BANK through High Court proceedings for a claim brought by the bank relating to the rights attaching to U.S. $100 million in loan participation notes. The bank argued that resolutions proposed
passed by the majority noteholders affecting rights in the notes amounted to a fraud against the minority noteholders.
Advised Arab National Bank on various matters.
Represented American Express in an appeal to the High Court relating to alleged minor technical defects in a default notice served pursuant s87(1) of the Consumer Credit Act 1974. The case is authority for the proposition that a minor technical defect relating to the service of a default notice does not prevent a lender from taking enforcement action where the borrower has not been prejudiced (American Express Services Europe Ltd v. Ian Karl Robert Br
on [2010]).
Following the fallout from the economic collapse of Icel
, advised financial institutions
other parties in respect of various disputes. This included advising Schneider Foreign Exchange in a 35m dispute with an Icel
ic bank in respect of forex swaps,
advising a major retailer in respect of the enforcement of a 'repo' agreement following the administration of Kaupthing Singer & Friedl
er.
Part of the team who advised the Althingi (the Icel
ic Parliament)
its budget committee on a variety of matters arising from the loan agreements entered into between the depositors
investors guarantee scheme of Icel
the commissioners of Her Majesty's Treasury. This followed earlier advice in respect of potential disputes arising from the collapse of Icel
's major banks
action taken against Icel
ic banks in the U.K.
Advised Mirax Group Holding BV in relation to a dispute in Russia
Engl
over the terms of a U.S. $300m facility agreement provided by an investment bank. The dispute centered on the transfer of the facility obligations to a new lender
the discrepancies arising out of the transfer.
The above representations were h
led by Mr. Zabeti prior to his joining Greenberg Traurig, LLP.
